Minnesota Administrative Rules
Agency 109 - Rural Finance Authority
Chapter 1653 - RESTRUCTURE II PROGRAM
Part 1653.0011 - APPLICABILITY AND PURPOSE

Universal Citation: MN Rules 1653.0011

Current through Register Vol. 49, No. 13, September 23, 2024

Subpart 1. Applicability.

Parts 1653.0011 to 1653.0111 establish the criteria and procedures to be used by the RFA in administering the restructure participation program authorized by Minnesota Statutes, section 41B.04.

Subp. 2. Purpose.

The purpose of the RFA restructure II program and the issuance of bonds to finance or provide security for the program is to preserve and develop the state's agricultural resources. This is accomplished by extending credit on real estate security through the purchase of participation interests in first priority mortgage farm real estate loans.

Statutory Authority: MS s 41B.07

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